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Wendy's
2570 Commerce Parkway, Bunnell, FL 32110
$2,225,000
Cap Rate 5.22%
$2,395,000
Cap Rate 4.85%
Views: 0 DOM: 85 Updated: 11.30.23 Posted: 07.08.23 Status: Sold 10.02.23
Summary
| Price $2,225,000 $2,395,000 | Built/Renov 2011 | Tenant Wendy's |
| Cap Rate 5.22% 4.85% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
3,276
| Lease Start
07-02-2018
| #Units
90
|
| Price/SF $679.18 $731.07 | Expiration
07-31-2038
| Tenant Type Fast Food/QSR |
| NOI $116,105 | R. Term 14.7 | Ownership Fee Simple |
| Rent/SF
$35.44
| Increases 10.0%/5/yrs | Pop 5Mi 52,828 |
| Lot/AC 2.12 | Options 1/10yrs/10% | AHHI 5Mi $73,753 |
| | |
Lease Highlights
- Tenant has 15 years remaining on its current lease term with 1 (10-year) option to extend
- 10% Increases every 5 years
- Absolute NNN | Zero Landlord Responsibilities
- Income tax-free state
- Franchisee guaranteed by Gold Coast Holdings
Location Description
The site is conveniently located with excellent visibility on the corner of Commerce Parkway and Moody Boulevard with prominent street visibility and direct access to 45,000 VPD. The subject property is surrounded by a strong mix of local and national retailers including Target, Ulta, Publix, TJ Maxx, Petsmart, Ross, Michaels, ALDI, Tractor Supply, McDonald’s, and Walgreens among others. The...
...Features
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Hard corner intersection
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Major thoroughfare
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Near major nationals
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Highway location
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Top 100 MSA
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Population increase trend
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Long 15+ yr lease
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Absolute NNN
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Traded and rated company
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50+ unit franchisee backed
...
Maps
Tenant
- Tenant: Wendy's
- Guarantor:Franchisee
- Company:Gold Coast Holdings
- # Units:90
- Tenant S&P: B+
- Moody’s: B3
- Stock:NASDAQ: WEN
About Tenant
Wendy's is an American international fast food restaurant chain founded by Dave Thomas in 1969, in Columbus, OH. The Wendy’s Company, together with its subsidiaries, operates as a...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 3,691 | 32,833 | 63,446 |
| 2023 Total Population : | 3,518 | 27,014 | 56,162 |
| 2023 Employed Civilian Pop : | 1,165 | 10,388 | 23,002 |
| 2023 Total Businesses : | 283 | 980 | 1,367 |
| 2023 Average Household Income : | $ 76,359 | $ 83,167 | $ 86,466 |
| 2023 Total Consumer Spending : | $ 107 M | $ 764 M | $ 1673 M |
| 2023 Median Age : | 49 | 42 | 43 |
| 2023 Total Households : | 1,617 | 10,604 | 22,324 |
| 2023 Pop Age 25+: Bachelor's Degree : | 455 | 2,938 | 6,829 |
| 2023 Average Home Value : | $ 317,291 | $ 299,240 | $ 309,486 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| E Hwy 100 | Utility St | 2008 | 13,600 | 0.49 mi |
| FL 100 | Briarwood Path | 2021 | 12,400 | 0.52 mi |
| East Moody Boulevard | N Palmetto St | 2021 | 12,200 | 0.67 mi |
| E Hwy | Belle Terre Pkwy | 2008 | 13,544 | 0.97 mi |
| Easthampton Boulevard | Ehrling Ln | 2021 | 1,300 | 1.14 mi |
| State Street | E Booe St | 2021 | 12,100 | 1.18 mi |
| Belle Terre Boulevard | Zebulahs Trl | 2021 | 5,300 | 1.19 mi |
| Belle Terre Boulevard | Zebulahs Trl | 2019 | 5,500 | 1.19 mi |
| E Hwy 100 | S Church St | 2008 | 12,700 | 1.21 mi |
| S State St | E Ct Ave | 2008 | 14,100 | 1.23 mi |
